With fxs we dont need to do anything ? Just

Question

Frax Finance

Captn

With fxs we dont need to do anything ? Just

the ticker will change ?

#cryptocurrency #english #frax

0

15.11.2024

13 ответов

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Bjirke
Hello ser. Sorry for the late answer. There is no ...

Thats perfect answer thank you very much🤝

0

1 месяц назад

ALBERT

Bjirke
Hello ser. Sorry for the late answer. There is no ...

a man can dream, but it would be great if you have vefxs, once it unlocks or you decide to extend the duration, you get new frax. A possible form to do that is an airdrop to those holding fxs at a time, and airdrop of the new vefrax. Then, og FXS becomes a meme token that is valueless. This could

0

1 месяц назад

ALBERT

Bjirke
Hello ser. Sorry for the late answer. There is no ...

a man can dream.... An ideal scenario would be an airdrop that requires no claim for those of us that live in countries that require to pay taxes. A possible form to do that is an airdrop to those holding fxs at a time, and airdrop of the new veFRAX based on veFXS position. Then, og FXS becomes a meme token that is valueless (which may end up having some fun value)

0

1 месяц назад

Bjirke

ALBERT
a man can dream.... An ideal scenario would be an ...

There is currently no public information on how it will get resolved. But thank you for your input ser. It is always valuable to hear interesting ideas. If you are worried about a taxable event, then it is safe to hold FXS and wait with the conversion until you are ready to do so. However, it might become more difficult to have the asset productive after the solution goes live.

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1 месяц назад

ALBERT

Bjirke
There is currently no public information on how it...

I'm aware, this is why I'm saying a man can dream ;) Hopefully, the team consider it to assess if it is feasible

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1 месяц назад

Stable 0% Man

ALBERT
a man can dream.... An ideal scenario would be an ...

@BuenoPues - You see this? I didn't even think about this. I'm good as long as the ticker change is in 2025, but for people looking to not pay cap gains on FXS I could see this as an issue. My guess some people might just treat this as a ticker change (Keep using the old ticker since crypt tax software can't handle this kind of change) and no exchange. I don't think "no cap gains for US crypto tokens" would be implemented in time.

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1 месяц назад

Bueno Pues

Stable 0% Man
@BuenoPues - You see this? I didn't even think abo...

I dont thnk it will be an airdrop or something to "claim." My expectation is that it will chang automatically on the backend...or, there will be a "migration" which, in tax software is a "migration" or "swap" which is not taxable. That being said, @samkazemian has stated that people can keep their existing FXS the way it is today and there is no "time period" that they have to migrate. I expect the details to be more solidificed in Vision 2030, but, I dont see a tax issue...yet

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1 месяц назад

Stable 0% Man

Bueno Pues
I dont thnk it will be an airdrop or something to ...

You're right. I forgot Koinly has a "swap" option, but not all crypto tax software have a "swap" and "exchange" option. It's gray area, and I still go the conservative route and treat this as an exchange. 😆

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1 месяц назад

Bueno Pues

Stable 0% Man
You're right. I forgot Koinly has a "swap" option,...

Koinly = Swap TokenTax = Migration

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1 месяц назад

Stable 0% Man

Bueno Pues
Koinly = Swap TokenTax = Migration

Oh nice. I didn't know/forgot they had a Migration option. 😂

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1 месяц назад

Jason

Stable 0% Man
@BuenoPues - You see this? I didn't even think abo...

What cap gains? We’re all down bad

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1 месяц назад

Stable 0% Man

Jason
What cap gains? We’re all down bad

In some countries, this affects the (1 year) holding period for long term cap loss.

0

1 месяц назад

Bjirke · Accepted Answer

Hello ser. Sorry for the late answer. There is no information at the moment on how or when the ticker change will happen. Please stay tuned for more information. Most likely you will have to upgrade it manually by trading in your FXS to get the new FRAX token. If you have your FXS in cold storage, you do not need to worry as the team already have said that the upgrade will not have a time limit. Meaning once the solution goes live, you can always trade 1 FXS to 1 FRAX through the upgrade contract. Hope that answers your question and lessens your worry.

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